Saturday, 19 December 2015

Singapore 4th best at helping young people economically

Study ranked 35 cities on 31 indicators, with Toronto, New York and Chicago the top three
By Jeremy Koh, The Straits Times, 18 Dec 2015

Singapore is the fourth-best city in the world at helping young people progress economically, according to new research.The study ranked 35 cities on 31 indicators to come up with an overall score. Toronto ranked first overall, followed by New York and Chicago.The research commissioned by Citi Foundation was conducted to help public and private initiatives prepare urban youth for the economy.

Singapore did well in the four broad index categories - government support and institutional framework for youth; employment and entrepreneurship; education and training; and human and social capital. It ranked first in the employment and entrepreneurship category and among the top 10 in the other three categories.

Singapore was also top in 12 sub-categories, including government effectiveness, quality of industrial relations and youth employment opportunities.

But it ranked last for the cost-of-living category and 32nd on how optimistic youth were about their economic future, in the study conducted by the Economist Intelligence Unit.

The study also surveyed around 5,000 people between 18 and 25 across the 35 cities on their living situation, education, professional aspirations, their level of community engagement and economic outlook.Singapore ranked 16th in civic engagement with 47 per cent of the respondents having participated in programmes designed to improve their community over the past two years. Bangkok came in first at 71 per cent.

However, just 28 per cent of participants here said they have moved for school, work or a better life in the last five years, which is considered a low score.

"Young people's economic vitality and ambition are powerful growth engines for the world's cities," said Mr Leo Abruzzese, global director of public policy at The Economist Intelligence Unit.